Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 45 - BANKING RULES
Chapter 9 - ACTIVE EXECUTIVE OFFICERS
Section 45-9-002 - DEFINITIONS
Universal Citation: 45 NE Admin Rules and Regs ch 9 ยง 002
Current through March 20, 2024
002.01 For purposes of this Rule:
002.01A "Active Executive Officer" is as
defined in Neb. Rev. Stat. §
8-139.
002.01B "Class I Executive Officer's License"
means a license granted prior to the effective date of this Rule to any person
who performed any functions of an active executive officer with the exception
of making loans or investments;
002.01C "Class II Executive Officer's
License" means a license granted prior to the effective date of this Rule to
any person who directly or indirectly made loans or investments for a
bank;
002.01D "Investment" means an
outlay or expenditure of institutional funds requiring individual judgment as
to the appropriateness of the expenditure, but does not include routine outlays
or expenditures requiring little or no judgment, such as investment of excess
funds in overnight federal funds.
002.01E "Loan" means any extension of
credit.
002.01F "Opt-In Bank" means
a bank which utilizes the Department's licensing process for active executive
officers.
002.01G "Opt-Out Bank"
means a bank which has elected for its active executive officers to be exempt
from the requirement to apply for and obtain a license from the
Department.
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